Kanger in MoU to ex­plore Bangladesh bam­boo ven­ture

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Bam­boo floor­ing man­u­fac­turer Kanger In­ter­na­tional Bhd has inked a mem­o­ran­dum of un­der­stand­ing (MoU) with AK Khan Ply­wood Co Ltd to ex­plore the pos­si­bil­ity of do­ing busi­ness in re­la­tion to the man­u­fac­tur­ing and pro­duc­tion of bam­boo prod­ucts and fur­ni­ture in Bangladesh.

Kanger is prin­ci­pally in­volved in the trad­ing and man­u­fac­tur­ing of bam­boo floor­ing and re­lated prod­ucts for the res­i­den­tial and com­mer­cial mar­kets. Last year, the com­pany di­ver­si­fied its ac­tiv­i­ties to in­clude prop­erty in­vest­ment and man­age­ment.

Estab­lished in 1951, AK Khan Ply­wood is the pi­o­neer ply­wood man­u­fac­turer in Bangladesh.

In a state­ment last Fri­day, Kanger said the par­ties will form a joint ven­ture (JV) com­pany, to be named AK Kanger Pte Ltd that will fo­cus on the de­vel­op­ment, pro­duc­tion, man­age­ment and op­er­a­tions of lam­i­nated and strand wo­ven bam­boo prod­ucts and/or any other new in­no­va­tions of bam­boo-based prod­ucts.

Un­der the MoU, Kanger said the JV com­pany will ex­plore the pos­si­bil­ity of es­tab­lish­ing a bam­boo plan­ta­tion in Bangladesh as well as aid the dis­tri­bu­tion, mar­ket­ing and sell­ing of the man­u­fac­tured bam­boo prod­ucts through both AK Khan Ply­wood’s and the com­pany’s global net­works.

“We are ex­cited to em­bark on this com­ple­men­tary ven­ture with AK Khan Ply­wood as this will en­able both sides to lever­age on our re­spec­tive ex­per­tise, ex­pe­ri­ence and re­sources to ex­pand our reach in the global mar­kets,” its ex­ec­u­tive direc­tor Syed Hazrain Ja­malul­lail said.

He added that the ven­ture will en­hance the com­pany’s growth prospects in the bam­boo prod­ucts and fur­ni­ture mar­ket and en­able it to cre­ate fur­ther aware­ness on the en­vi­ron­men­tally-friendly prod­uct and tap into the huge growth po­ten­tial.

“The busi­ness ac­tiv­i­ties that will be car­ried out by the JV com­pany is ex­pected to be a source of sta­ble re­cur­ring rev­enue to Kanger in the fore­see­able fu­ture,” he added.

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